MVK Agro Food Product Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | February 29, 2024 to March 4, 2024 |
| Listing Date | March 7, 2024 |
| Face Value | ₹ 10 per share |
| Price | ₹ 120 per share |
| Lot Size | 1,200 Shares |
| Total Issue Size | 54,90,000 shares (aggregating up to ₹ 65.88 Cr) |
| Fresh Issue | 54,90,000 shares (aggregating up to ₹ 65.88 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 1,00,00,000 |
| Share holding post issue | 1,54,90,000 |
| Market Maker portion | ₹ 2,74,800 shares Nikunj Stock Broke |
About MVK Agro Food Product Limited IPO
MVK Agro Food Product Ltd. (MAFPL) is an integrated sugar and other allied products manufacturing company operating from Nanded District in the State of Maharashtra. It operates a single location sugar unit having licensed crushing capacity of 2,500 TCD. In addition to sugar the company also commercializes and sells by-products and waste products, namely, Molasses, Bagasse and Pressmud. M.V.K. Agro Food IPO is a fixed price issue of Rs 65.88 crores. The issue is entirely a fresh issue of 54.9 lakh shares. M.V.K. Agro Food IPO price is ₹120 per share.
The minimum lot size for an application is 1200 Shares. Horizon Management Private Limited is the book running lead manager of the M.V.K. Agro Food IPO, while Mas Services Limited is the registrar for the issue. The market maker for M.V.K. Agro Food IPO is Nikunj Stock Brokers.
Objectives of MVK Agro Food Product IPO
The company proposes to utilize the Net Proceeds from the Issue towards the following objectives:
- 1. Setting up a greenfield unit in Nanded, Maharashtra for
- (i) manufacturing Ethanol
- (ii) generation and bottling of Bio-CNG and Fertilizer.
- 2. General corporate purposes.
MVK Agro Food Product IPO Review
The company is primarily in sugar production and has few other by-products. It is adding an ethanol plant to tap the rising demand for this by-product. The company marked inconsistency in its top and bottom lines for the reported periods. Based on its FY24 annualized super earnings, the issue appears aggressively priced. Well-informed/cash surplus investors may park funds for the medium to long term rewards.
MVK Agro Food Product Limited IPO Financial Information
Latest Revenue
6,044.36
₹ Crore
Profit After Tax
430.07
₹ Crore
Net Worth
1,767.74
₹ Crore
Total Borrowing
6,281.23
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2023 | 14,804.05 | 6,044.36 | 430.07 | 1,767.74 | 6,281.23 | ||||
| 31 Mar 2023 | 15,471.93 | 9,393.63 | 377.45 | 1,337.67 | 9,156.10 | ||||
| 31 Mar 2022 | 11,602.06 | 13,263.56 | 319.81 | 960.22 | 6,001.32 | ||||
| 31 Mar 2021 | 11,445.70 | 2,583.10 | 140.41 | 640.41 | 7,496.33 | ||||
| Amount in ₹ Crore | |||||||||
MVK Agro Food Product Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 32.85% |
| ROCE | 13.44% |
| Debt/Equity | 6.84 |
| RoNW | 32.85% |
| P/BV | 4.49 |
| PAT Margin (%) | 4.02 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.77 | 5.55 |
| P/E (x) | 31.79 | 21.61 |
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Competitive Strengths
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MVK Agro Food Product Limited IPO Timeline
| IPO Open Date | Thursday, February 29, 2024 |
| IPO Close Date | Monday, March 4, 2024 |
| Basis of Allotment | Tuesday, March 5, 2024 |
| Initiation of Refunds | Wednesday, March 6, 2024 |
| Credit of Shares to Demat | Wednesday, March 6, 2024 |
| Listing Date | Thursday, March 7, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 4, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1200 | ₹144,000 | |
| Retail (Max) | 1200 | ₹144,000 | |
| HNI (Min) | 2,400 | ₹288,000 |